A Comparative Study on the Export Competitiveness of Rare Earth Products from China, the United States, Russia and India

Abstract

This paper evaluates and compares the export competitiveness of rare-earth products from China, the US, Russia, and India between 2006 and 2020 using the CMS model and the WRCA index. The results show that (1) the competitiveness of the four countries’ rare-earth products has changed differently. The overall competitiveness of rare-earth products of China, the US, and India has decreased, whereas the competitiveness of Russia’s rare-earth products has increased. (2) The factors inhibiting the development of the competitiveness of rare-earth products in the four countries are different. In China and India they are market factors and product factors, in the US it is the overall market share factor, and in Russia it is the market factor. (3) The competitiveness of rare-earth products varies greatly among the four countries. China has the highest rare-earth export competitiveness, whereas the US has significantly lower export competitiveness of rare-earth products than China. Russia and India do not have comparative advantages. (4) The four countries have different trends in the evolution of the competitiveness of rare-earth products. The export competitiveness of rare-earth products of China and India tends to decline, whereas that of the United States and Russia tends to rise. Based on the above findings, the paper puts forward corresponding policy recommendations.